TransAlta Corp. reported a decline in first-quarter profit and revenue compared to the same period last year, with power production also falling short of previous levels. The Calgary-based electricity generator and energy marketing company released its financial results on Wednesday, revealing a net income of $112 million for the quarter ended March 31, down from $145 million in the first quarter of 2025. Revenue dropped to $1.2 billion from $1.4 billion a year earlier.
Lower power output impacts results
The company attributed the decrease to lower power production, which fell to 12.4 terawatt-hours (TWh) from 13.1 TWh in the prior year. This decline was driven by planned maintenance outages at several facilities and lower wind resource availability. TransAlta's fleet includes natural gas, hydro, wind, and solar assets across Canada, the United States, and Australia.
Market conditions and outlook
CEO John Kousinioris noted that the results reflect challenging market conditions, including lower Alberta power prices and reduced demand in some regions. However, he expressed optimism about the company's long-term strategy, which focuses on transitioning to cleaner energy sources and optimizing its asset portfolio. TransAlta reaffirmed its 2026 adjusted EBITDA guidance of $1.5 billion to $1.7 billion.
The company also highlighted progress on its renewable energy projects, including the completion of the 145-megawatt White Rock wind farm in Alberta. TransAlta shares on the Toronto Stock Exchange closed at $14.23 on Tuesday, down 2.3% from the previous day.
